HomeMy WebLinkAbout861129.tiff RESOLUTION
RE: APPROVE CERTAIN DOCUMENTS BETWEEN GREELFY-WELD AIRPORT
AUTHORITY AND JOHNSON AND JOHNSON EDUCATION SYSTEMS, INC. AND
AUTHORIZE CHAIRMAN TO SIGN
WHEREAS, the Board of County Commissioners of Weld County,
Colorado, pursuant to Colorado statute and the Weld County Home
Rule Charter, is vested with the authority of administering the
affairs of Weld County, Colorado, and
WHEREAS, certain documents between the Greeley-Weld Airport
Authority and Johnson and Johnson Education Systems, Inc. have
been presented to the Board of County Commissioners, and
WHEREAS, said documents consist of: an Agreement Regarding
Encumbrance of Leasehold Interest, pertaining to a loan in the
amount of $100 ,000 . 00; an Agreement Regarding Encumbrance of
Leasehold Interest, for a loan in the amount of $386 ,507. 59; a
Deed of Trust, in the amount of $100 ,000. 00; and a Deed of Trust,
in the amount of $386 ,507. 59 , and
WHEREAS, after review, the Board deems it advisable to
approve said documents, copies of which are attached hereto and
incorporated herein by reference.
NOW, THEREFORE, BE IT RESOLVED by the Board of County
Commissioners of Weld County, Colorado, that the hereinabove
described documents between the Greeley-Weld Airport Authority and
Johnson and Johnson Education Systems , Inc. be, and hereby are,
approved.
BE IT FURTHER RESOLVED by the Board that the Chairman be, and
hereby is , authorized to sign said documents.
861129
Page 2
RE: JOHNSON & JOHNSON EDUCATION SYSTEMS, INC.
The above and foregoing Resolution was, on motion duly made
and seconded, adopted by the following vote on the 24th day of
November, A.D. , 1986.
y� BOARD OF COUNTY COMMISSIONERS
ATTEST'l' a.7 t,AAt WAtiond WELD COUNTY, COLORADO
Weld County Clerk and Recorder u; '�4a _ .•\MOM',
and Clerk to the Board ( J cqu ine o nson, Chairman
EXCUSED DATE OF SIGNING - AYE
0-3X-rc,c,_J Gordon E. Lacy, Pro-Tem
D$puty County erk n uett g/��n,
stt
APPROVED AS TO FORM: �R Brantner
EXCUSED
cQ j d � N C.W. irby
amount Attorney
Frank Yam ag �
86112.9
- AGREEMENT REGARDING ENCUMBRANCE OF LEASEHOLD '"ITEREST
1. Defined Terms. The following teens shall have the meanings indicated whenever used in this Agreement:
Johnson & Johnson Education Systems, Inc. d/b/a
1.1 Borrower (Name and Address): Emery School o£ Aviation
c/o Technical Trades Institute, 2315 Pikes Peak Ave.
Colorado Springs, CO
1.2 Bank (Name and Address):United Bank of Skyline, N. A.
1055 16th St.
Denver, CO 80202
THE CITY OF GREELEY, a Municipal Corporation and
1.3 Lessor (Name and Address): THE COUNTY OF WELD, a Body Corporate and Politic
of the State of Colorado, jointly
1.4 Lease: The Lease,dated_larrh 14. 1986 ,between the Lessor,as the landlord,and the
Borrower,as the tenant,a copy or which is attached to this Agreement as Exhibit A.
1.5 Note: The promissory note of the Borrower to the order of the Bank,dated April 28, 1986
in the principal amount of $ d and all renewals arid extensions thereof.
1.6 Deed of Trust: The Deed of Trust,dated April 2a, 1986vering the Borrower's leasehold
inter ed the Lease, from the Borrower to the Public Trustee of the County of
Colorado,for the benefit of the Bank to secure the Note and the
Obligations.
1.7 Obligations: The Borrower's obligations under the Note and all other obligations secured by the
Deed of Trust.
The terms and conditions on the reverse side and subsequent pa f gr n eb
orporatedd i o it. � � � , Municipal Corporation
. o`hnson & `Johnson Education Systems, Inc. and THE COUNTY OF WELD, a Body Corporate and i
d/b/a Emery School of Aviation Politic of the State of Colorado, jointly
Borrower Lessor r BY:
Bi.::E. K. Dill Jr J�jl'L1i
4- .
re's ent
(Seal)
(Seal) J I
Attest._ — Attest: 1 jl!
_ i
t
Dated__. _ Dated ____—_ .1 7
Lessor's Acknowledgement See Attachment No. 1 for signature of I
STATE OF COLORADO, 1 THE COUNTY OF WELD r
ss. !
COUNTY OFLt i[ ) }h �, �� (i
The fore ping insh;u,nont was acknowledged before me this ul _day of" Z1 VJO' , 19��c , r
by-7'-1 .1 ../ .r. ) 92.r. M
-- .,
(as—_ /(Jai Kir- __ President and•. 4;L)
asOl j— 0..11)2E- —c,t r -y of r_ ` LL 7f S
a corporation). r
Witness my hand and official seal.
Kji/ZA.OU ;AL lC1 ,64.-.:
Notary Public I
n
My commission expires 1''-04--
I
Borrower's Acknowledgement I
STATE OF COLORADO )
I
) ss. I
COUNTY OF Ek ?1 A-O ) >'�/�l�..
The foregoing estrum Dills acknowledged before me this l h____day o! ;Q/I"Y11c.r1Ji , 79 •1 rr�o,
by Johnson & Johnson E�cucation Systems, Inc.
(as____ — _President and Y tt
as Secretary of d/b/a Emery School of AIation — f
a corporation).
Witness my hand and official seal.
r
•
e_ ,s,„,,,,
Notary Publi
My commission expires_ , 14/ 'S� i4
5.389
i.
•
2. Recitals. The Borrower has executed the Deed of trust in order to secure the Obligations,and, in order to
confirm the adequacy of Cue Deed of Trust as sect the Bank has inquired that this Agreement be executed
and delivered by the Lessor and the Borrower.
3. Lessor's Consent. The Lessor hereby consents to the Borrower's oneut nberi ng its interest in the Lease
pursuant to the terms of the Deed of Trust.
4. Representations and Warranties of the Lessor and the Borrower. I I a, t e „r hitrely represents and warrants
to the Bank that Exhibit A attached to this Ayr etnent is t true and corner t r n of the
ss
has been executed by the duly authorized repr rntutives of the Lessor and is a Valid, binir,igand that cea Lease
obligation of the Lessor. The Borrower represents and warrants to the Bahl
Agreement is a true and correct copy of the Lease and that rte Lease has I 9 and enforceable
that CxhibiL A nUsuhed to this
representatives of the Borrower and is a valid, binding and r nfor :ably nl ration of the
By the duly -
also represents and warrants to the Bank that the authorized
claim,setoff, lien or encumbrance other than the Ben of the Ded of leasehold)rest r'+st in tl e Borrower The Borrower
Lease i not subject to any
5. Notice of Defaults Under the Lease;the Bank's Right to Cure. Before exert Isis7 any right to ten nlrta[e the
Lease, the Lessor shall give to the Bank, in addition to notice ro the
ur able by the
notice of all defaults claimed as a basis for the I ulht to terminate. Tire t ter S al least 3U days' prior written
hall rh t ht have Ihe right to notify
the Lessor prior to the expiration of such 80-day period of the Bank's le,atien to assume' the Borrower's
obligations to the Lessor under the Lease. If the Bank so elects, the Les r shall trot t exercise
h ereafter any
right to toeInnate the Lease so long as the Bank cures arty default ni the Borrower rrassom abl)'
Bank, which shall not include defaults such as, bats not reel red to, the bankruptcy or ansnivene_yfthe Borrower.
e
6. Bank's Rights Upon Foreclosure of the Deed of Trust, II Burt weer dufaull° irnr Bt tilt' (ab ly;tlioru and
the Bank forecloses under the Deed of Trust, by giving writ) grim o to Ire t esser We Batik may, t
ut not
be obligated to,assume all of the rights and obligations nt tit burro,
all of the rights and obligations of the Bier rower tn:dur the t ,ake, liar B,nikunder hall pay,or re It the he Bur o era allto pay, the Lessor the unpaid amountsdue under the Lease ina: .n :,ntha n e with its awns and oa otherwise Wiper funs
the Borrower's obligations under the Ledge e The Lessor stir shall rely, _
notice from the Bank that the Bank has assumed all of the rightsand OHeiati asn ts of thrdr to>
without anyrely, upon wntaan
inquiry into whether tit, harrower is in duf,u111 .era Lit Ihe, l)bliq:nntm,. bf1r rower under the Lease
7. Borrower's Continued Liability; Indemnification of the Bank; Rights of Subrogation. l her Bank's
assumption of any of the Borrower's obligations pursuant to puagraph Nor G above shall not relieve the
Borrower of its obligations under the Lease The Battowee! shall remain liable for all costs and expenses incurred
in connection with performance ea of its cl lagattons under rho I a Ind Ili, Brower shall indemnify the Bank
from,and hold the Bank harmless agatrsl, ,dl kaiak wee ;;e's alms, r„s and expenses !including
limitation attorneys' lees air expenses) which the Bank array n r or ern r ;t ii a e
Bnrruwtrsoblagd[ons urger theIwilhout
shall be ons njndl d to all the Lessor's the Brad ra r,l c' arty paynien� y reason r r ids'n. neat non of the
Under thereuponno circumstances si bronat,.shal to Binh he deemed b taiy U uri r undo to Be Lease, the tsnk
abuts II Borne t ✓ dh iir,aw Bath payments
Obligations under the Lease unless and until wr tteri ne tit,, is J.livcrud era the Lesave assumed sor in ac o)rrlan,re with
paragraphs 5 or 6.
8. No Amendments to the Lease. lNathout the print ,,writ len t )r eent nt Chi- rlite n"esor grail fir('
will not (a) amend, modify or other r n mqe any ham as the Leas, no
connection t Ion with the Borrower
Leasewhl h .would have are, f4Wirral
a I Lo tee=n ry other action in
rights thereunder , [it nail tat inq ale v_Ir . cal Ilse Brier Or uaU�t rat Ihcruan or
9. Lessor's Certification of No Defaults. Upon the tarp", r II..cc, but gist more rafted than Orli e: I'm Ii
six-month Period, the Lessor SVIrl furnish to Ihn Bane i r r Cilia rird tlrvr L out :lmit that (to t.oneliUcr
exists that constitute s an event e i default under the r ar ['prince, if ter Hence or Iaps,of time or butte,vrould
constitute to event of default r , or overt
if any such condition or ,vent c xt t ,sp lying the nature and period of
existence thereof and what at rota the Lessor is taking or proposes to aal,(" with resper-t Went
10. Performance by the Borrower. The B nrov✓et ov none, that Illy It, ;ia dal,:ref al Ilie,eaihey*r I
tarlhfully performe I, trod th t so long a. Hu Deed of I rust [Mott tre et ell,, fails ally
parfolm all its nhmgatians unit r ale Leas and that It will not , tiny time: ha ✓Ito-,: ran t tp
r 'll .. r la it.
thereunder, so as to give to the I essor tail,• IL) t,,nru rdlc Ito• L aeon her L( ae ei, fault
11. General. la) No Irlikatr of t to Bank to avail Hilt of .eiy e f Ut t ate:, m t eraHia
any period of time shall be (crush tired to be a waiver of an full right and authority to union!? this Agreement, or any of its I aa. HP; e gratin gent tt,r y f its [tarns turn ui I amyl the Hunt shall have me
deem tit. (b) The Bank shall inure no liability to the Bono tt any time or to Ina,l Ili ( its shall
in good faith pursuant to the It.erl of Trust or 'r f my .. tiny r iI Ly II liana ,ear n invalid (c) The Lessor and the
y e Ages r a waive
in t rve: s I In .`✓heal arSri lam nl a u rev to for :.
Borrower he red y expressly �aiv� Inv Rails r t ir rturritili
(d) Arty consent, notice or nth r coca trtunteaton requ re d c r rtare-art( dead r Ilmr
If intended fur the Lt ,or or the Borruwei it shall he I Ilia Agreement
err .
Fogs n r ;Inds l e i warring Borrower at the patty's address given on the front deemed
page of this t t essecc re: re rer d r a! ',U l other r U riven or y
noticeas herein provided. If inte ndad for the Bank, it shall u^ -IeT n rlav:ri a t f r:t yriadder
(e) This Agreement shall be goer lle d by the laws of tit Stab of t, , r ado f given Under
this Agreement shall be cumulative anal shall inure to the ucnefit it , soar,, ,.f All to as ihl.,a All
viol oy the Bank.
the Lessor and the Borrower hereunder shall br: binding capon Ihe r a learn' Barra under
s r ante assign.as Iqn All o! hga eons of
assigns of the Lessor and the Borrower. (g) The paragi a m noatlir
PIS t an ralaue s oerus gas and
d lta,s A Inri are for porpn e of
reference c my Ind shall not limit n otherna e iff,s r Ili: ni grin r r o l Ail
in several counterparts,each of which shall be deemed :la original, brat all of I h Ills rtertl;ur&ha uS
ersletsIt ll c t eitute one
rytae executed
toil and the same instrument.
i
n
ATTACHMENT NO. 1
AGREEMENT REGARDING ENCUMBRANCE OF LEASEHOLD INTEREST
THE COUNTY OF WELD, a Body Corporate and Politic
of the State of Colorado
BY:
, r. PY�, `,
queLifie Joh skpn , Chairman
Board of County Commissioners
Weld County, Colorado
ATTEST: L'J} `t*y- a n.vn
Weld County Clerk and Recorder
and Clerk to the Board
BY: A, c`fj1tr7L,, e e
Deputy County Clerk
SEAL
DATED January 20, 1987
➢`�
AGREEMENT REGARD'AtG ENCUMBRANCE OF LEASEHOLD •''TEREST
1. Defined Terms. The following terms shall have the meanings indicated whenever used in this Agreement:
Johnson & Johnson Education Systems, Inc. d/b/a
1.1 Borrower (Name and Address):
Emery School of Aviation
c/o Technical Trades Institute, 2315 Pikes Peak Ave.
Colorado Springs, CO
1.2 Bank (Name and Address): United Bank of Skyline, N. A.
1055 16th St.
Denver, CO 80202
THE CITY OF GREELEY, a Municipal Corporation and
1.3 Lessor (Name and Address):
THE COUNTY OF WELD, a Body Corporate and Politic
of the State of Colorado, jointly
1.4 Lease: The Lease,dated_. 1L 1 OQ-, between the Lessor,as the landlord,and the
Borrower,as the tenant,a copy of which is attached to this Agreement as Exhibit A.
1.5 Note: The promissory note of iI e 8 w o the order of the Bank,dated_ May ,1 1986
in the principal amount of $ j�6,�b�/•��
---- ,and all renewals and extensions thereof.
1.6 Deed of Trust: The Deed of Trust,dated yr 1, 19 covering the Borrower's leasehold
86
interest in the Lease, from the Borrower to the Public 'trustee of the
Weld County of
Colorado, for the benefit of the Bank to secure the Note and the
Obligations.
•
1.7 Obligations: The Borrower's obligations under the Note and all other obligations secured by the
Deed of Trust.
The terms and dd conditions on the reverse side and subsequent pa f r
, o alategiUiison Education Systems, Inc, and n THE 4COUNTY�OF WELD,Municipal aBod Corporation
d/b/a Emery School of Aviation Body Corporate and
------�__.f Politic of the State of Colorado, jointly l.essur — olntl
BY: --.2f
Y:
- i , r s er 'C7-r/
(Seal)
(Seal) ,
Attest —— -- — )
— ---- Attests __
Dated -— 7
--- Dated �_ _Z- ,
Lessor's Acknowledgement See Attachment No. 1 for signature of j
STATE OF COLORADO } THE COUNTY OF TAD
J ss. e
___________COUNTY OF1.4t' ?d) _ )
Th re Dint instrumentt
J was acknowledged before me this day of I/ 1 ' ,( c (7,-1
by .L. 1 -f J.
791.)_/_,
(as A-1 President and
as 3t y of (' �,; ��7� �r�" €
— — ��
a cargo ation)• -- —_
Witness my hand and official seal.
i
y. , / p
Notary Public
My commission expires `� -r
Borrower's Acknowledgement
STATE OF COLORADO______________)
•
COUNTY OF �.� q,� } ss. 1
The foregoing instrument was acknowledged before me) this 1
E. R. Dillday of
by f9
i
(as President and Jo neon 7 o nsson ucation
as ystems,`^T c;
Secretary of_� �?a EmeE5F— c o0 o v anon
a corporation).
Witness my hand are;,' otfiri I
al seee l i
r r {
Notary Public/ -- �
N �=�
5-389 My commidion expires_ P/449
1
i.
I
•
2. Recitals. The Borrower has executed the Deed of Trust in order to secure the Obligations,and, in order to
confirm the adequacy of the Deed of Trust as security, the Bank has required that this Agreement be executed
and delivered by the Lessor and the Borrower.
3. Lessor's Consent. The Lessor hereby consents to the Beauty/et r'5 e:nr„inhering its interest in the Lease
pursuant to the terms of the Deed of Trust.
4. Representations and Warranties of the Lessor and the Borrower. rhea Lessor hereby represents and warrants
to the Bank that Exhibit A attached to this Agreement is a true and car reset'zapy of the Lease and that the Lease
has been executed by the duly authorized representatives of the Lessor and is a valid, binding and enforceable
obligation of the Lessor. The Borrower represents and wsrants to the Bar t, that Exhibit A attached to this
Agreement is a true and correct copy of the Lease and that the Lease has tr 'e executed by the duly authorized
representatives of the Borrower and is a valid,binding and enforceable old teation of the Borrower_ The Borrower
also represents and warrants to the Bank that the Borrower Irasehald eitenecat in the L ease is not subject to any
claim,setoff, lien or encumbrance other than the lien of the Deed of di est.
5. Notice of Defaults Under the Lease;the Bank's Right to Cure. 13 a<4,1 e irl ❑ny r lab t to terminate the
Lease, the Lessor shall give to the Bank, in addition to notice to the Bra tower,at least 30 days' prior written
notice of all defaults claimed as a basis for the right to terminate. the Hank shall then have the right to notify
the Lessor prior to the expiration of such 30-day period of the Bank's election to assume the Borrower's
obligations to the Lessor under the Lease. If the Bank so elects, the Lessen shall not thereafter exercise any
right to to 'nitrate the Lease so long as the Bank cures any default of the Hon ower reasonably curable by the
Bank, which shall not include defaults such as, but not limited to, the bankrupts or insolvency of the Borrower
6. Bank's Rights Upon Foreclosure of the Deed of Trust. It the Bur rowel defaults under the Obligations and
the Bank forecloses under the Deed of Trust,by giving wi'uten notice to the I essor the Bank (tidy, but shallrot'
be obligated to,assume all of the rights and obligations ui the Bra lower (4114H t the Lease. If the Bank assumes
all of thnTights.arimi-o}>}tc,ettrous-af-The-But rower under the Lease, the Bank shall pay,or cause the Borrower to
pay, the Lessor the unpaid amounts due under the Lease in 1 corduoi c with its feints and will otherwise per form
the Borrower's obligations under the Lease_ The Lessor shall rely,and shall Le entitled to rely, upon written
notice from the Bank that the Bank has assumed all of the rights and obligationns of the Borrower under the Lease
without any inquiry into whether the Borrower is in default under the Obligations.
7. Borrower's Continued Liability; Indemnification of the Bank; Rights of Subrogation. The Bank's
assumption of any of the Borrower's obligations pursuant to paiayi,eph 6 or tl above shall not relieve the
Borrower of its obligations under the Lease_ The Borrower shall remain liable for all costs and expenses incurred
in connection with performance of its obligations under the Lease,aril the Borrower shall indemnify the Bank
from,and hold the Bank harmless against, all liar.4111,1145, losses danrules,costs and expenses lincluding without
limitation attorneys' fees and expenses) which the Bank may inr:ur :rr externs! by reasiri of its assumption of the
Borrower's obligations under the Lease If the Bank matJes any pay:nulls ruewed under the Lease, the Bank
shall thereupon be subrogdl ed to all the Lessor's e this against tf e Hosroves with respect to such payments.
Under no circumstances shall the Bank be deemed by any party to have assumed Borrower's rights and
Obligations under the Lease unless and until wriltrrn notice is delivered to the Lessor In accordance with
paragraphs 5 or 6.
8. No Amendments to the Lease. Without Ulu prior wt tarn con;,e m of the IS,,ii?- Ulu t essor and the Borrower
will not (at amend modify dr Ihawu. .bonne ❑rly sent eel 1,144
t
{sonne e thin with the Lease v hu h would trove the effect of imi einne the value of r the Bank's(alters interest therein or
rights thereunder.
9. Lessor's Certification of No Defaults. Upon the Bank's request, but not 'non;of ten than react, each
six-month period, the Lessor will furnish to the Bank a certificate of the Lessor stating that no conrlihort or event
exists that constitutes an event of default under the Leas;or whine, al It,r not r?E ur lapse of item or herb,would
constitute an event of default, or, if any such condition or event exists, speafying the nature and period of
existence thereof and what action the Lessor is taking or proposes to take with respect thereto. •
10. Performance by the Borrower. The Borrower covenants that up to the data of 'his Ate tuniiant it has •
faithfully performed,and that so long as the Deed of Trust shall he al effect, it will continue faithfully to
perform all its obligations under the Lease and that d will not at any time during tiv: ham of the lathe default
thereunder, so as to give to the Lessor cause to terminate the Lease.
11. General. (a) No failure of the Bank to avail itself of any of Ihr [cries and conditions of the,Agri:Haunt for
any period of time shall be construed to bee waiver of any of its lights here unrlcr, and the Bank shall have the
full right and authority to enforce this Agreement,or any of its terms,at any tirne or tines that the Bank shall
deem fit. (h) The Bank shall incur no liability to the Borrower If any actin t 1,.4411 I;y the Bank or en its behalf
in good faith pursuant to the Deed of Trust or this Agreement shalt prove to ad. in whole or in par l inadequate or
invalid (c) The Lessor and the Borrower hereby expressly waive the Bank „eve ior,n aeceptanr e of this Agreement.
(d) Any consent, notice or °thee communication regained re c intuniplatrrl by this Agreement shalt be: in writing.
If'inte'nded for the Lessor or the Borrower, it shall be deemed revels if 111011 444,, postage prepaid to the Lessor or
the Borrower at the party's address given on the front page of this Ark uere n ,e ai ,r4.40-1 4 4ther (1,fritess given ley
notice ts heririn ptovitte d. If intended for the Bank it shall be:,14,44,1144,, given e my if actually received by the Bank.
(e) This Agreement shall be governed by the laws of the State of Colorado. DI All the rights of the Bank under
this Agreement shall be cumulative and shall inure to the benefit of its sot: yssort and assigns Alt obligations of
the Lessor and the Borrower hereunder shall he binding upon the heirs, legal representatives,successors and
assigns of the Lessor and the Borrower_ (g) The paragraph headings as this Agreement are for purposes of
reference only and shall not limit or otherwise affect the 'meaning hereof. (it) This Agregnient may be executed
in several counterparts, each of which shall be deemed an original, Di all of ,emir h Ux)uthe,shall constitute one
and the same instrument.
•
IIi
s
ATTACHMENT NO. 1
AGREEMENT REGARDING ENCUMBRANCE OF LEASEHOLD INTEREST
THE COUNTY OF WELD, a Body Corporate and Politic
of the State of Colorado
BY: � �VAty0 �
cqu ine J nson, Chairman
hoard of County Commissioners
Weld County, Colorado
ATTEST: 01/ t AA/Chu?n;2
Weld County Clerk and Recorder
and Clerk to the Board
BY: . 11794-y7tC
eputy County Cetk
SEAL
DATED January 20 , 1987
SHADE, DOYLE, KLEIN, OTIS & FREY
ATTORNEYS AT LAW
SUITE 300
RICHARD N.DOYLE GREELEY NATIONAL BANK PLAZA GREELEY TELEPHONE
HENRY C FREY GREELEY, COLORADO 80631 (303) 353-6700
ROGER A.KLEIN
FRED L.Of15 DENVER METRO TELEPHONE
WILLIAM E.SHADE (303) 659-7576
4"Pf,I.F rT7117 r7,cSI IR-S
November 19, 1986 ' ' ' 1
NOV 2 01986 1,
Weld County Commissioners
915 10th Street
Greeley, CO 80631
Re: Greeley-Weld County Airport Authority/Johnson & Johnson Lease
Dear Commissioners:
Please find attached the following:
1. One copy of an "Agreement Regarding Encumbrance of Leasehold
Interest" pertaining to a $100,000 loan of Johnson & Johnson Education
Systems, Inc.
2. One copy of an "Agreement Regarding Encumbrance of Leasehold
Interest" pertaining to a $386,507.59 loan of Johnson & Johnson Education
Systems, Inc.
3. One copy of a "Deed of Trust" for Johnson & Johnson Education
Systems, Inc. , in the amount of $100,000.
4. One copy of a "Deed of Trust" for Johnson & Johnson Education
Systems, Inc., in the amount of $386,507.59.
5. Copy of my letter dated September 8, 1986, to the Greeley Weld
County Mtjort Authority.
6. Copy of my letter dated November 19, 1986, to the Mayor and City
Council of the City of Greeley.
As indicated in my letter to the Mayor and City Council, the six copies
of the documents requested by Johnson & Johnson Education Systems,
Inc. , have been forwarded to the Mayor and City Council of the City
of Greeley. I would appreciate your putting this matter on your next
available agenda. Once the matter is approved by you and the City
Council has completed their signing process, I will forward the six
copies of each document to you for signature.
861129
Weld County Commissioners
November 19, 1986
Page 2
Please advise me if it will be necessary for me to attend your meeting
when this matter is heard.
Sincerely,
Fred L. Otis
Attorney at Law
FLO:rah
Enclosures
cc: Fred Jaeger-Greeley/Weld County Aizport
cc: Owen W. Johnson-Cimarron Education Corp.
cc: Teresa Bardwel.l-United Bank of Skyline
'5r�
SHADE, DOYLE, KLEIN, OTIS & FREY
ATTORNEYS AT LAW
SUITE 300
RICHARO N.DOILE GREELEY NATIONAL BANK PLAZA GREELEY TELEPHONE
HENRY C.FREY GREELEY.COLORADO 80631 (303) 353-6700
ROGER A.KLEIN
FRED L.0115 DENVER METRO TELEPHONE
WILLIAM E.SHADE (303)659-7576
November 19, 1986
The Honorable Bob Markley
City Council Members
City of Greeley
919 7th Street
Greeley, CO 80631
Re: Greeley- Weld County Airport Authority/Johnson & Johnson Lease
Dear Mayor and Members of City Council:
Please find attached the following:
1. Six copies of an "Agreement Regarding Encumbrance of Leasehold
Interest" pertaining to a $100,000 loan of Johnson & Johnson Education
Systems, Inc.
2. Six copies of an "Agreement Regarding Encumbrance of Leasehold
Interest" pertaining to a $386,507.59 loan of Johnson & Johnson Education
Systems, Inc.
3. Six copies of a "Deed of Trust" for Johnson & Johnson Education
Systems, Inc., in the amount of $100,000.
4. Six copies of a "Deed of Trust" for Johnson & Johnson Education
Systems, Inc. , in the amount of $386,507.59.
5. My letter dated September 8, 1986, to Fred Jaeger and the Greeley Weld
County Airport Authority.
You should be advised that the Greeley-Weld County Airport Authority
has approved items 1 through 4 above and recommends approval by the
City of Greeley and County of Weld.
I would appreciate your having this matter on the next available City
Council agenda and advising me whether or not it will be necessary
to appear on behalf of the Airport.
Sincerely,
Fr L. Otis
Attorney at Law
FLO:rah
cc: Fred Jaeger-Greeley/Weld County Airport
cc: Owen W. Johnson-Cimarron Education Corp.
cc: Teresa Bardwell-United Bank of Skyline
SHADE, DOYLE, KLEIN, OTIS & FREY
ATTORNEYS AT LAW
RICHARD N.DOYLE SUITE 300 GREELEY TELEPHONE
HENRY C.FREY GREELEY NATIONAL BANK PLAZA (303)353£/00
ROGER A.KLEIN GREELEY, COLORADO 80631
FRED L OTIS DENVER METRO TELEPHONE
WILLIAM E.SHADE (303)659-7576
September 8, 1986
Mr. Fred Jaeger
Greeley-Weld County Airport Authority
P. 0. Box 727
Greeley, CO 80632
Re: Johnson and Johnson
Dear Fred:
Please find attached the following:
1. Six copies of an "Ag_reenent Regarding Encumbrance of Leasehold
Interest" pertaining to a $100,000 loan of Johnson & Johnson
Education Systems, Inc.
2. Six copies of an "Agreement Regarding Encumbrance of Leasehold
Interest" pertaining to a $386,507.59 loan of Johnson & Johnson
Education Systems, Inc.
3. Six copies of a "Deed of Trust" for Johnson & Johnson Education
Systems, Inc., in the amount of $100,000.
4. Six copies of a "Deed of Trust" for Johnson & Johnson Education
Systems, Inc., in the amount of $386,507.59.
You will recall that we were required to accomplish a number of re-
quirements for Transamerica Title Insurance Company so that United
Bank of Skyline could get a valid Deed of Trust in the leasehold interest
of Johnson & Johnson Education Systems, Inc. We accomplished those
items. I thought the matter was fully utiupleted until I received
the above documents which, apparently, the United Bank of Skyline
is now requiring.
Naturally, because of the way title stands on the Johnson & Johnson
property and, consequently, our Lease is structured, both the City
and County will have to sign off on both of the above Agreements Regarding
Encumbrance of Leasehold Interest (1 and 2 above). The Aitpprt Authority
will, of course, have to approve those documents before the City and
County will consider them.
Principally, the Board should review on the reverse side of the Agreements
regarding Encumbrance of Leasehold Interest, Paragraphs 3, 4, 5, 6,
and 8. The Agreement regarding Encumbrance of Leasehold Interest
is essentially a document which defines the Bank's rights in the Lease.
�T.
Mr. Fred Jaeger
September 8, 1986
Page 2
After you have had an opportunity to review each of the above-numbered
paragraphs, please contact me.
After the Board approves these changes, we will have to again circulate
than to the City and County for signature. Do you want to do that
or do you want me to handle it? Please advise.
Sincerely,
Fred L. Otis
Attorney at Law
FLU:rah
Enclosures
2ni
� , mEmoRAnDum
ESCTo Mary Reiff Dd1e December 19 , 7986
Shiba, County Attorney' s Office 5
COLORADO From Sandy orn },
sine«, Johnson and Johnson Lease
Today, pursuant to Tom David ' s instructions , I left a message for
Fred Otis indicating that we do not have the documents concerning
the Johnson and Johnson Lease and further that the City may still
have the documents. I also indicated that as soon as we receive
these documents, we would forward them on to him.
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